NIFTY found support exactly at 5800 levels? Did you follow the blog for the swing buy advice. Where is NIFTY headed?

NIFTY FUTURE- Review of 14th Mar

NIFTY FUT –   We had mentioned that has crucial support at 5830 zones and breaking that can move to 5800 were we marked yesterday that there is option accumulation plus there was a price point support and we many a times asked traders to look for low risk buying opportunity at that zone.
Hope traders initially capitalized on the short trade and were able to close it in time and find the appropriate levels to go long. Even during these volatility the trading levels come in very handy with a little bit of improvisation.
We mentioned that the BULLS LAST stand point of the day was 5830 and below that target was given at 5800.
Secondly the trend decider was marked at 5860 and above that targets were upto 5890, 5925 and higher levels. levels.
Once market found support near 5800  it gave a very good contrarian long opportunity more so because we had already identified this as a swing support zone.
We went short captured 50% good gains and got stopped out for the remaining 50%. Then the long trade above 5865 yielded solid gains to sum a good trading day.

Now that markets have sharply pulled back and give a close well above 5925 zones. Where are the next hurdles? Also some updates on a few high potential stock trades.

NIFTY FUTURE – 15^th  Mar  Trading Guide

NIFTY FUT staged a terrific pull back from the swing support levels and managed to close strong. This was one of the strongest reversal days we would had seen. Just to guage the magnitude of that reversal markets pulled back 150 points from lows. Banknifty futures pulled back 600 points from the lows of the day . we managed a solid near 200 points gains.
It will be a good point now to have a look at the hourly charts set up to see where markets may be headed.
Thought it will be a good idea to present the GUPPY charts. Made popular by famous investor trader Darryl Guppy.

The guppy charts have a number of ema plotted covering both short term and long term EMA to give a very good idea to a visual trader who wants to keep a check on trend reversals and also trend pull back trades. The EMA’s also serve as a SL at times to the visual trader.

NIFTY FUT CHARTS-14 MAR

As per the Guppy charts now we have done a whipsaw after breaking the EMA zones and now are back to positive EMA territory as well .
Also presented along with that is the MACD and the RSI plot charts. Today reversal’s also marked a strong reversal on these indicators. The MACD has now just given a cross over indicating a positive charts and at the same time the RSI too has given a break out above the desending trend line and has reversed from  a low of 30. Just the traditional RSI buy back values.

Now combining these with the chart and the price point analysis . NIFTY FUT has immediate resistance at 5960 levels and trading above that can head to 5900-6000 resistance zones.

On the downside immediate support now comes at 5920 and trading below that can go onto test 5890-5900 levels where markets should find some support.
Two stocks to watch out is SBIN and RELAINCE. Based on our propereitary indicator these two stocks have give a strong break out and should pull some way. Lets us watch out for them in the coming sessions. We did take long positions in them

We have also started posting live automated trading signals on commodities. Please feel free to use them  and share your inputs.

Swing indicator wise the short term momentum indicator are  positive again and will hold so until NIFTY FUT trades above 5890. The mid term momentum indicators are positive now and will hold so until NIFTY FUT trades above 5860 levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5960-65  sustaining above which it will target 5990,6025,6040
POWERTRADE TREND DECIDER OF THE DAY ------- 5920-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-5895
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865,5835